Carvana Co. (NYSE:CVNA) Shares Bought by MML Investors Services LLC

MML Investors Services LLC grew its holdings in Carvana Co. (NYSE:CVNA) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,172 shares of the company’s stock after buying an additional 122 shares during the quarter. MML Investors Services LLC’s holdings in Carvana were worth $726,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Ridgewood Investments LLC purchased a new stake in Carvana during the second quarter worth about $32,000. Sugarloaf Wealth Management LLC acquired a new position in Carvana during the third quarter worth about $32,000. Summit Securities Group LLC lifted its holdings in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Carvana in the third quarter valued at approximately $40,000. Finally, Fifth Third Bancorp increased its stake in shares of Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CVNA shares. Jefferies Financial Group increased their target price on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Wedbush lifted their price objective on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Robert W. Baird upped their target price on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Finally, Stephens assumed coverage on shares of Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $222.71.

Carvana Price Performance

CVNA stock opened at $224.46 on Friday. The stock has a 50-day simple moving average of $233.54 and a 200-day simple moving average of $173.18. The firm has a market cap of $46.60 billion, a P/E ratio of 22,468.47 and a beta of 3.32. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana Co. has a 1 year low of $40.21 and a 1 year high of $268.34.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The firm’s revenue was up 31.8% compared to the same quarter last year. During the same period last year, the business earned $0.23 EPS. On average, equities analysts predict that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 208,495 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $224.43, for a total value of $46,792,532.85. Following the transaction, the chief financial officer now directly owns 90,732 shares of the company’s stock, valued at $20,362,982.76. This represents a 69.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,841,908 shares of company stock worth $357,778,785 in the last quarter. 17.12% of the stock is owned by corporate insiders.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.